U.S. biofuel credits fall more than 10% ahead of Trump meeting with U.S. senators: traders

FILE PHOTO: U.S. President Donald Trump speaks before presenting the Medal of Freedom to former New York Yankees pitcher Mariano Rivera during a ceremony in the East Room of the White House in Washington, U.S., September 16, 2019. REUTERS/Al Drago September 19, 2019
NEW YORK (Reuters) – U.S. biofuel credits on Thursday fell more than 10% ahead of a meeting between President Donald Trump and senators to discuss biofuels policy, traders said.
Renewable fuel (D6) credits for 2019 traded at 22 cents apiece, down from 24.75 cents each on Wednesday, traders said.
The meeting will include Louisiana Senator Bill Cassidy and other lawmakers representing oil-heavy states. It will likely focus on demands of the oil industry as Big Oil and Big Corn clash over biofuel blending mandates.

(Reporting by Stephanie Kelly)

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